Stephanie Stuckey is part of a lengthy line of family executives, yet the CEO of convenience store chain Stuckey’s has been leaning on some old advice from her grandfather to get through the current economic environment.
In a LinkedIn post a few weeks ago, Stuckey recounted a relative’s wisdom of the $5 rule.
“My grandfather had a strategy for managing high prices at the pump,” she wrote. “Whenever it cost Stuckey’s customers more than $5 to fill up their tank, that was the tipping point when...